Everyone is On Sale

According to the consultants firm PriceWaterhouseCoopers (PWC) of the top 100 retailers, ninety are on sale. With some retailers slashing prices up to seventy percent, everyone from fashion houses like Furla, Jaegar and even department stores like Marks & Spencer are all offering amazing discounts. Even shoe designer Jimmy Choo is selling some shoes at half price, dropping the price of Proud Elaphe snake sandals from $684 to $341. With many retailers cutting prices to clear shelves of older items, PWC says the average discount seen on high street is up to sixty percent.

Another consulting business, Ernst & Young, offer research that shows that the summer sales last year stared earlier than the previous year by ten days. The sales lasted longer, began earlier and the discounts were deeper. Experts warn shoppers to not get used to promotions to remain permanent and they feel that prices could be quietly rising on other products while eye-catching promotions are only on a few lines. Director at Verdict Neil Saunders feels retailers will be forced to raise their prices to recover rising costs, especially in clothing imports.